FINOLEX CABLES Announces Quarterly Results (1QFY21); Net Profit Down 57.1%

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FINOLEX CABLES Announces Quarterly Results (1QFY21); Net Profit Down 57.1%
Thu, 10 Sep

FINOLEX CABLES has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

FINOLEX CABLES Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m8,0776,5143,771-42.1%-53.3%
Other incomeRs m220587225-61.7%2.3%
TurnoverRs m8,2977,1013,996-43.7%-51.8%
ExpensesRs m7,0175,6433,426-39.3%-51.2%
Gross profitRs m1,060871345-60.3%-67.4%
DepreciationRs m99961004.7%1.2%
InterestRs m272-76.7%-22.7%
Profit before taxRs m1,1791,355468-65.4%-60.3%
TaxRs m363183119-35.4%-67.3%
Profit after taxRs m8161,172350-70.1%-57.1%
Gross profit margin%13.113.49.2
Effective tax rate%30.813.525.3
Net profit margin%9.816.58.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter fell 53.3% on a year-on-year (YoY) basis. The expenses were down by 51.2% YoY during the same period.
  • The company's operating profit declined by 67.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.2% in 1QFY21 as against 13.1% in 1QFY20.
  • Depreciation charges increased by 1.2% and finance costs declined by 22.7% YoY, respectively.
  • Other income increased by 2.3% YoY during the quarter.
  • Net profit for the quarter declined by 57.1% YoY. Net profit margins during the quarter declined from 9.8% in 1QFY20 to 8.8% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 42.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 39.3% QoQ during the same period.
  • The company's operating profit declined by 60.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.2% in 1QFY21 as against 13.4% in 4QFY20.
  • Net profit for the quarter declined by 70.1% QoQ, while net profit margins declined from 16.5% in 4QFY20 to 8.8% in 1QFY21.

To see how FINOLEX CABLES has performed over the last eight quarters,please visit here.

Know More: Which way are the markets & the mutual fund industry headed?

FINOLEX CABLES Share Price Performance

Over the last one year,FINOLEX CABLES share price has moved down from Rs 372.9 to Rs 280.1, registering a Loss of Rs 92.8 or around 24.9%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 13,815.1 (up 1.2%). Over the last one year it has moved down from 17,257.9 to 13,815.1, a gain of 3,443 points (down 19.9%).

Overall, the S&P BSE SENSEX is up 3.6% over the year.

Current Valuations

At the current price of Rs 280.1, the price to earnings (P/E) ratio of FINOLEX CABLES stands at 12.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.8 times.

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